by Ferry Bayu | Aug 23, 2023 | Business
PH-SKorea eye FTA signing next month
Philippines and South Korea trade ministers have agreed to work for the signing of the bilateral free trade agreement (FTA), preferably during the 24TH ASEAN-Republic of Korea Summit next month in Indonesia.
Trade and Industry Secretary Alfredo E. Pascual relayed the new development after meeting with his South Korean counterpart Minister Dukgeum Ahn at the sidelines of the 55th AEM Meeting in Semarang, Indonesia over the weekend where both ministers discussed greater economic engagements between the two countries.
“Both Ministers welcomed the conclusion of the PH-ROK FTA negotiations and agreed to work for its signing, preferably at the sidelines of the 24th ASEAN-Republic of Korea (ASEAN-ROK) Summit in September 2023,” the DTI said in a statement.
In addition, the ministers agreed to work on a possible supply chain resilience cooperation to ensure stability and predictability of business operations, particularly in the manufacturing sector.
Both parties concluded the FTA negotiations on Oct. 26, 2021, two years after it was launch in June 2019.
The concluded Korea-Philippines FTA negotiations cover Trade in Goods, Trade Remedies, Rules of Origin, Customs Procedures and Trade Facilitation, Economic and Technical Cooperation, Competition, and Legal and Institutional Issues.
Both parties also agreed to further negotiate provisions for the Chapters on Trade in Services and Investment no later than one year after entry into force of the Korea-Philippines FTA. Philippines and Korea also committed to complete all necessary domestic procedures towards the signing of the Korea-Philippines Free Trade Agreement in early 2022.
The FTA would further liberalize trade in goods between the two countries, including gradual elimination of tariffs on Philippine bananas and canned pineapple exports and exports of Korean automobiles and autoparts.
Both parties acknowledged that the FTA will help contribute to the economic recovery efforts of the Philippines and Korea.
Once enforced, the FTA with South Korea will be an important vehicle for enhancing trade flows, and generating more investment and employment opportunities in the process. The bilateral FTA will be the third for the Philippines,
“We are glad that our trade negotiations with South Korea have come to a fruition. We also thank Minister Yeo and the Ministry of Trade, Industry and Energy (MOTIE) for their continued collaboration in facilitating a wider economic cooperation with our Philippine trade department,” Lopez said.
Both trade partners have acknowledged that the FTA can contribute to the swift recovery for the robust and resilient growth of the economies of the two countries.
At the conclusion of the trade talks, both parties called the deal mutually beneficial and paving the way for high level of liberalization on trade in goods.
Following the conclusion of negotiations, both parties were looking at signing the PH-ROK FTA during the 40TH AND 41ST ASEAN Summits and Related Summits in November last year in Phnom Penh, Cambodia.
The signing, however, did not materialize as both parties were still reviewing text and provisions of the trade deal.
Conclusion of the trade deal has been delayed for quite sometime already, largely due to market issues for goods, particularly on the exports of Philippine bananas and pineapples to South Korea. The Philippines fruits are being levied a 30-percent tariff, putting them a disadvantaged against competing exports from Vietnam which tariff rate will eventually reduce to zero.
The PH-ROK FTA Negotiations was launched in June 2019 in Seoul by former Trade and Industry Secretary Ramon Lopez and South Korea’s Minister for Trade Yoo Myung-hee.
by Ferry Bayu | Aug 23, 2023 | Business
Financial literacy for everyone CashKu and airasia academy tie up opens up learning pathways
CashKu (a 1337 Ventures investee), and airasia academy have entered into a partnership to offer financial literacy courses in a bid to empower the Malaysian public to plan their financial futures better.
KUALA LUMPUR, 18 August, 2023 – CashKu, owned by Advisonomics (a 1337 Ventures investee), and airasia academy have entered into a partnership to offer financial literacy courses in a bid to empower the Malaysian public to better plan their financial futures.
This programme is accessible via the following two links on airasia academy’s website:
English: https://airasiaacademy.com/on-demand-learning/financial-literacy-with-cashku
BM: https://airasiaacademy.com/on-demand-learning/literasi-kewangan-bersama-cashku
“airasia academy is delighted to venture into this partnership with CashKu. As an education platform, we believe that making financial knowledge easily available for everyone is truly a worthwhile endeavor,” says airasia academy Director Dr Ram Gopal Raj.
He adds that the direct correlation between low financial literacy and low household income is quite evident in Malaysia, and this underscores the importance for these courses to be made available to the general public.
“The participants will also learn how to use the CashKu app to manage their finances and potential investments and use it for more efficient and effective financial planning to secure their financial futures.”
Meanwhile Advisonomics co-founder Asgari Stephens shares that one in three Malaysians consider themselves as having low financial knowledge. And while more than 75% of Malaysians understand that inflation means the cost of living is rising, only some 38% can understand how that affects their purchasing power.
“The modules we are offering in this programme are especially tailored for the novice and takes them through an introduction to financial literacy right to setting goals and taking proactive steps towards securing their financial futures.”
“I believe this will create a positive impact towards improving financial literacy among Malaysians and help them to better plan their finances,” Asgari adds.
The beginner level courses which are available in Bahasa Malaysia and English encompasses Understanding the Importance of Financial Literacy, Managing Cash Flow, Awareness of Inflation and Its Impact and Introduction to Savings and Investments.
CashKu also has intermediate and advanced modules to promote a progressive approach to learning about financial literacy. The intermediate course would encompass Understanding Net Worth and How to Identify It, Introduction to Budgeting, and Saving vs Investment while the advanced programme covers a Recap on the Importance of Saving and Having an Emergency Fund, Introduction to Passive Investment and Active Investment, Efficient Market Hypothesis and the Concept of Compounding.
To access the course one just needs to go into airasiaacademy.com and search for CashKu. The beginner level videos are available at no charge while the intermediate and advanced level programme are accessible for free via the CashKu app.
1337 Ventures (pronounced as ‘Leet’), is a Malaysian VC, we invest in early-stage startups. We run Alpha Startups Accelerator to help idea and MVP-stage startups launch, validate, and grow. We also help SMEs raise funds via ECF & consult corporates on their Innovation journey.
Learn more: https://1337.ventures/about/
About Advisonomics
Advisonomics is a registered financial planning firm established in 2019, backed by highly experienced and trained financial advisors. Holding both HRDF and financial planning licences, the firm aims to democratise and create financial literacy among Malaysians using a powerful mix of technology and human collaboration, with the message that everyone can create investments towards securing their financial future.
For more information, visit the website at www.advisonomics.my
About airasia academy
airasia academy is the region’s fastest growing one-stop edutech platform with a goal to make learning more accessible and affordable for everyone. The platform provides an accessible, affordable and inclusive ecosystem to build and nurture talent to meet the demands of today’s digital economy. Some of the education offerings include On-Demand Learning (ODL), accredited Instructor-Led Training (ILT) for in-demand tech courses such as Digital Marketing, Cloud Infrastructure, Data Analytics, Software Engineering and Cybersecurity to the Learning Management System (LMS) which streamlines and elevates the learners journey as well as Job Placement service for its job-ready graduates.
For more information, visit the website at https://airasiaacademy.com/
Shannon Chow
Head of Marketing, 1337 Ventures
sh*****@**37.ventures
by Ferry Bayu | Aug 23, 2023 | Business
JFC says Tiong Bahru Bakery, Common Man Coffee Roasters won’t compete with CBTL
MANILA — Jollibee Foods Corp said on Tuesday its new bakery and coffee ventures won’t compete with its own brands.
In an earlier disclosure to the Philippine Stock Exchange, the country’s largest restaurant operator said it formed a joint venture with Food Collective Pte Ltd (FCPL) to bring Tiong Bahru Bakery and Common Man Coffee Roasters to the Philippines.
The Jollibee Group owns Coffee Bean and Tea Leaf (CBTL). It also has an interest in Vietnamese brand Highlands Coffee.
During its second quarter earnings briefing, JFC Chief Financial Officer Richard Shin said they don’t see the recent investments cannibalizing the coffee market since the kinds of coffee and food products that will be served in these new stores would be quite different from what you would see in CBTL.
Tiong Bahru Bakery is famous for its hand-made croissants while Common Man Coffee Roasters is known for its specialty coffee.
“Common Man will be a different expression of coffee in that it’s closer to a more premium barista coffee,” Shin said. “That’s what it’s famous for and therefore it will not be competing with Highland Coffee or CBTL, but in fact, it’s a new segment,” he explained.
Shin also confirmed the two Asian brands would be coming to the country “soon.” He said the joint venture has been set up, the funding is ready, a location has been chosen, and they have a management and staffing plan for the bakery and coffee shop.
But unlike JFC’s other coffee brands, Shin said they’ll be keeping the number of branches for Tiong Bahru Bakery and Common Man small to reflect the boutique style the brands are known for in Singapore and Malaysia where there are less than 20 outlets.
by Ferry Bayu | Aug 23, 2023 | Business
Metrojaya Partners with TheNoor to Revolutionize Charitable Donations
Metrojaya, a prominent retail brand in Malaysia, is thrilled to announce its strategic partnership with TheNoor, an innovative online app dedicated to transforming the Muslim lifestyle experience in. This landmark collaboration aims to bring about significant social impact by seamlessly integrating Tabarru, TheNoor’s groundbreaking donation platform, into Metrojaya departmental stores transforming the landscape of charitable donations.
Tabarru, an Arabic term meaning “mutual help,”
perfectly encapsulates the essence of this transformative partnership. By
joining forces, Metrojaya and TheNoor aspire to empower customers to make a difference
by incorporating charitable giving into their shopping experiences. With a
simple scan of the QR code in-store, Metrojaya shoppers now have the
opportunity to contribute to a wide range of causes supported by TheNoor,
encompassing education, healthcare, poverty alleviation, and environmental
conservation.
“We are delighted to partner with TheNoor, a company
that shares our unwavering commitment to making a positive impact on
society,” said Karen Mak, Head of Marketing at Metrojaya. “By
seamlessly integrating Tabarru into our platform, we aim to provide our
customers with a meaningful and effortless way to give back to their
communities. This partnership displays our dedication to responsible business
practices and our collective pursuit of a better future for all.”
“We are incredibly excited about this strategic
partnership with Metrojaya. Together, we are revolutionizing the way charitable
donations are made, empowering individuals to make a meaningful impact in their
communities through seamless integration with Tabarru, our unique donation
platform,” said Mohd Izzairi Yamin, CEO of TheNoor. “This
collaboration exemplifies our shared vision of creating a better future for
all. By leveraging Metrojaya’s extensive reach and customer base, we can inspire
and enable individuals to make significant contributions to causes that matter
to them. It’s about turning everyday activities like shopping into acts of
compassion and social change.”
Vickneswaran Balasubramaniam, General Manager, Noor Luminous
“The Metrojaya and TheNoor collaboration was made possible by mutual consulting
partner to both parties The Protinus Group. The Protinus Group have been a great partner in adding new
revenue streams, introducing new technology and establishing valuable strategic
partnerships.
They are a regional digital transformation company that
identified this social conscience programme, as a means to unfold the “giving
nature” of Malaysians. Tabarru marks a significant milestone in the retail
industry, bridging the gap between commerce and compassion. As Metrojaya and
The Noor continue to pioneer innovation and adapt to the evolving needs of its
customers, this partnership reaffirms our joint unwavering dedication to
corporate social responsibility, solidifying our respective positions as leaders
in the retail and lifestyle sectors”.
For media inquiries, please contact:
Syed Adam
+60125709640
ad**@*****or.co
About Noor Luminous Sdn Bhd
TheNoor (Noor Luminous Sdn Bhd) is Malaysia’s first-ever
Islamic lifestyle super app. TheNoor (which means light in Arabic) is a
Shariah-guided company with an aim to bring Muslims closer to Islam through
continuous learning and exposure to the teachings of Islam via fresh,
accessible, interactive, and individualized methods. Aside from helping users
achieve their spiritual commitment, the faith-based app hopes to help more
Muslims live a holistic lifestyle through its variety of in-app features.
TheNoor app is available for download on the Google Play Store, Huawei App
Gallery, and the Apple App Store. For more information about TheNoor, visit www.thenoor.co/my/
About The Protinus Group
The Protinus Group is a global business transformation
consultancy headquartered in Singapore. They are a next generation innovation greenhouse accelerating scale and
growth for companies with global ambitions. Among their esteemed Clients are
The Noor, MUI Group, Corus Hotels and Metrojaya Department Stores in Malaysia,
Michael van Clarke in the United Kingdom.
The Protinus Group is a global business transformation consultancy headquartered in Singapore. They are a next generation innovation greenhouse accelerating scale and growth for companies with global ambitions. Among their esteemed Clients are The Noor, MUI Group, Corus Hotels and Metrojaya Department Stores in Malaysia, Michael van Clarke in the United Kingdom.
Jheeva Subramanian
jh****@*********rp.com
+61022125160
https://www.protinusgrp.com/
by Ferry Bayu | Aug 22, 2023 | Business
Whoscall app launched in the Philippines to block spam calls, messages
A Taiwan-based technology firm on Tuesday launched Whoscall—a call identification and spam-blocking app to address the rising mobile scam cases in the Philippines.
“As fraud became more apparent during and after the pandemic, we saw how Filipinos have suffered losses from scams, much like in other countries where we have launched Whoscall such as Thailand, Malaysia and Japan,” said Manwoo Joo, chief operating officer of Gogolook .
“This reality ignited our drive to create a comprehensive life protection platform accessible to every Filipino across the nation,” he said.
Powered by world-leading AI and data-driven technology, Whoscall boasts of the largest database in East Asia and Southeast Asia of over 2.6 billion entries to detect unknown callers, spam and scam calls and texts and potentially harmful URLs.
Whoscall app identifies unknown numbers, blocks spam calls and scans suspicious URLs from messages to provide comprehensive mobile protection. Armed with a range of innovative AI features and an internationally acclaimed reputation, Whoscall arrived in the country to enhance the nation’s mobile security.
Users can regain control and confidence over their phone communications. The app’s anti-fraud features allow users to make informed decisions on whether to answer or ignore calls and messages.
Individuals on the app can report suspicious numbers, empowering them to participate in the broad movement against fraudulent activities.
Gabriel Barrios, country marketing head for the Philippines, said Whoscall has been available as the leading caller ID and scam detection app in Thailand and Taiwan, accumulating 100 million downloads worldwide.
“It has been rolling out in other Asian countries as well, and we’re happy to finally provide this protective service to all Filipinos. We highly encourage everyone to install it on their phones and join the community to protect themselves and their loved ones from potential risks, fraud, and scams. It’s about time we all step up and unite for a Scam-Free Pilipinas,” he said.
Whoscall is available on Google Play Store and Apple App Store.
You must be logged in to post a comment.